Sumitomo Mitsui Trust Group Inc. Sells 6,743 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Sumitomo Mitsui Trust Group Inc. cut its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQFree Report) (TSE:CNQ) by 10.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 59,435 shares of the oil and gas producer’s stock after selling 6,743 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Canadian Natural Resources were worth $1,974,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. RFP Financial Group LLC lifted its holdings in shares of Canadian Natural Resources by 98.3% during the second quarter. RFP Financial Group LLC now owns 710 shares of the oil and gas producer’s stock worth $25,000 after purchasing an additional 352 shares during the period. Park Place Capital Corp lifted its holdings in shares of Canadian Natural Resources by 100.0% during the second quarter. Park Place Capital Corp now owns 716 shares of the oil and gas producer’s stock worth $25,000 after purchasing an additional 358 shares during the period. Sugarloaf Wealth Management LLC lifted its holdings in shares of Canadian Natural Resources by 100.0% during the second quarter. Sugarloaf Wealth Management LLC now owns 728 shares of the oil and gas producer’s stock worth $26,000 after purchasing an additional 364 shares during the period. Bruce G. Allen Investments LLC lifted its holdings in shares of Canadian Natural Resources by 91.6% during the second quarter. Bruce G. Allen Investments LLC now owns 868 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 415 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of Canadian Natural Resources by 104.7% during the second quarter. GAMMA Investing LLC now owns 874 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 447 shares during the period. 74.03% of the stock is owned by institutional investors.

Canadian Natural Resources Stock Up 1.7 %

Shares of NYSE CNQ opened at $33.66 on Tuesday. Canadian Natural Resources Limited has a 1 year low of $29.45 and a 1 year high of $41.29. The stock has a market capitalization of $71.04 billion, a P/E ratio of 13.07 and a beta of 1.50. The company has a 50-day moving average price of $34.44 and a 200-day moving average price of $35.44. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53.

Canadian Natural Resources (NYSE:CNQGet Free Report) (TSE:CNQ) last released its quarterly earnings results on Thursday, October 31st. The oil and gas producer reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.30. Canadian Natural Resources had a net margin of 18.45% and a return on equity of 20.07%. The business had revenue of $7.62 billion for the quarter, compared to analysts’ expectations of $6.40 billion. During the same period in the previous year, the company earned $0.96 earnings per share. On average, equities research analysts forecast that Canadian Natural Resources Limited will post 2.44 EPS for the current fiscal year.

Canadian Natural Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be paid a $0.388 dividend. This represents a $1.55 dividend on an annualized basis and a yield of 4.61%. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, December 13th. Canadian Natural Resources’s payout ratio is presently 60.58%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on CNQ shares. StockNews.com downgraded shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Desjardins upgraded shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a report on Tuesday, October 8th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $51.00.

Get Our Latest Stock Analysis on CNQ

Canadian Natural Resources Company Profile

(Free Report)

Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers light and medium crude oil, primary heavy crude oil, Pelican Lake heavy crude oil, bitumen (thermal oil), and synthetic crude oil (SCO).

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Institutional Ownership by Quarter for Canadian Natural Resources (NYSE:CNQ)

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